Question $22$

$2\mathrm{.}5$ pts

A stock currently sells for $$48.$ The dividend yield is $3\mathrm{.}7$ percent and the dividend growth rate is $5$ percent. What is the amount of the dividend that was just paid?

$$1\mathrm{.}69$

$$1\mathrm{.}78$

$$1\mathrm{.}61$

$$1\mathrm{.}48$

$$1\mathrm{.}60$